Rmi 2302 exam - Study guides, Class notes & Summaries
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RMI 2302 FSU NYCE EXAM 1 (Q&A) LATEST UPDATE ALREADY PASSED
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RMI 2302 FSU NYCE EXAM 1 (Q&A) 
LATEST UPDATE ALREADY PASSED 
 
Risk Likelihood Frequency - the probability that a loss can occur. 
 
What 3 ways can Risk Likelihood be categorized High - an event is expected to happen in 
most circumstances 
Medium - an even will probably happen in many circumstances 
Low - an event may occur at some point 
 
Risk Impact Severity - the potential effect that a loss could have if it arises. 
 
Risk prevention methods are best applied to what? Frequency of losses ...
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RMI 2302 Exam 1 DR. NYCE 2023
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RMI 2302 Exam 1 DR. NYCE 2023
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RMI 2302 Exam 2 Questions And Answers (Verified And Updated)
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RMI 2302 Exam 2 Questions And Answers 
(Verified And Updated) 
free market - answerfails to protect consumer interests requiring the government to find 
appropriate ways to protect us from ourselves; rewards those people who understand consumer 
behavior and can exploit consumer's weaknesses 
In a world dominated by rational behavior... - answerthe government could focus on 
externalities and focus less on consumers 
Jeremy Bentham - answer(19th century) Urged politicians to design policies tha...
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RMI 2302 Exam 1 Nyce questions and verified correct answers 2023
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Risk - correct answer Uncertainty regarding loss. There are different magnitudes of risk based on the decision maker: individual, organization, and society. Danger does not equal risk. Information does not alter risk. 
 
Uncertainty - correct answer When you do not know the outcome, there is uncertainty. Multiple outcomes can also lead to uncertainty. Uncertainty is doubt about our ability to predict future outcomes. Because uncertainty is subjective, it can differ across individuals even when t...
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RMI 2302 Exam 1 Nyce FSU Questions With Complete Solutions.
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RMI 2302 Exam 1 Nyce FSU Questions With Complete Solutions.
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Exam 2 RMI 2302 - FSU Dr. Nyce Questions With Complete Solutions
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Exam 2 RMI 2302 - FSU Dr. Nyce Questions With Complete Solutions
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RMI 2302 Exam Bundle.
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RMI 2302 Exam Bundle.
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RMI 2302 Nyce Module 2 Exam Questions And Answers (Verified And Updated)
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RMI 2302 Nyce Module 2 Exam Questions 
And Answers (Verified And Updated) 
A Scientific View of Risk - answerProbability of a person suffering an adverse effect from 
some activity or exposure over a given period of time/involvement. 
-ADDS A TIME ELEMENT 
Risk Reduction and Public Policy - answerRisk Reduction has costs (both monetary and non- 
monetary) 
Requires putting a value on human life 
How much are you worth? Parents? Grandparents? 
How do you balance risk/reward? 
Can drive highway de...
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RMI 2302 Exam 1 Nyce Questions And Answers (Verified And Updated)
- Exam (elaborations) • 6 pages • 2024
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RMI 2302 Exam 1 Nyce Questions 
And Answers (Verified And Updated) 
Risk - answerUncertainty regarding loss. There are different magnitudes of risk based on the 
decision maker: individual, organization, and society. Danger does not equal risk. Information 
does not alter risk. 
Uncertainty - answerWhen you do not know the outcome, there is uncertainty. Multiple 
outcomes can also lead to uncertainty. Uncertainty is doubt about our ability to predict future 
outcomes. Because uncertainty is subj...
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RMI 2302 Final Exam Nyce UPDATED Actual Exam Questions and CORRECT Answers
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RMI 2302 Final Exam Nyce UPDATED 
Actual Exam Questions and CORRECT 
Answers 
The number of years between same-sized natural disaster events is also known as - 
CORRECT ANSWER- Return Period 
Frequency and magnitude of natural disasters typically have a _____ ? - CORRECT 
ANSWER- Inverse relationship 
Risks of "high concern" in the Global Risk Report 2014 - CORRECT ANSWER- 1. Food 
crisis 
2. Water crisis 
3. Political instability
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